Fjarde AP Fonden Fourth Swedish National Pension Fund Has $3.53 Million Stock Holdings in Pentair plc (NYSE:PNR)

Fjarde AP Fonden Fourth Swedish National Pension Fund lifted its stake in Pentair plc (NYSE:PNR) by 24.5% during the fourth quarter, according to the company in its most recent Form 13F filing with the SEC. The fund owned 35,030 shares of the industrial products company’s stock after acquiring an additional 6,900 shares during the quarter. Fjarde AP Fonden Fourth Swedish National Pension Fund’s holdings in Pentair were worth $3,525,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds have also bought and sold shares of PNR. Quarry LP increased its position in shares of Pentair by 105.5% during the 3rd quarter. Quarry LP now owns 261 shares of the industrial products company’s stock worth $26,000 after purchasing an additional 134 shares during the last quarter. SJS Investment Consulting Inc. grew its stake in shares of Pentair by 753.8% in the fourth quarter. SJS Investment Consulting Inc. now owns 333 shares of the industrial products company’s stock valued at $34,000 after buying an additional 294 shares in the last quarter. Eastern Bank increased its holdings in Pentair by 144.9% during the fourth quarter. Eastern Bank now owns 507 shares of the industrial products company’s stock worth $51,000 after buying an additional 300 shares during the last quarter. Blue Trust Inc. raised its position in Pentair by 165.2% during the third quarter. Blue Trust Inc. now owns 525 shares of the industrial products company’s stock worth $51,000 after acquiring an additional 327 shares in the last quarter. Finally, Friedenthal Financial acquired a new stake in Pentair in the fourth quarter valued at $56,000. Institutional investors own 92.37% of the company’s stock.

Wall Street Analysts Forecast Growth

Several research analysts have recently weighed in on the stock. Wolfe Research assumed coverage on shares of Pentair in a research note on Tuesday, November 26th. They set an “outperform” rating and a $125.00 price objective on the stock. Citigroup dropped their price objective on Pentair from $126.00 to $119.00 and set a “buy” rating on the stock in a research note on Monday, January 13th. Royal Bank of Canada reaffirmed an “outperform” rating and issued a $115.00 price objective on shares of Pentair in a research report on Thursday, November 21st. Stifel Nicolaus decreased their target price on Pentair from $126.00 to $125.00 and set a “buy” rating on the stock in a report on Friday, January 24th. Finally, Barclays raised their price target on Pentair from $108.00 to $120.00 and gave the company an “overweight” rating in a report on Thursday, December 5th. Six analysts have rated the stock with a hold rating, ten have assigned a buy rating and one has given a strong buy rating to the stock. According to data from MarketBeat, the company presently has an average rating of “Moderate Buy” and a consensus target price of $111.25.

Pentair Trading Up 0.7 %

PNR stock opened at $93.27 on Wednesday. Pentair plc has a 52 week low of $72.63 and a 52 week high of $110.71. The company has a debt-to-equity ratio of 0.46, a quick ratio of 0.92 and a current ratio of 1.60. The company’s 50-day simple moving average is $100.00 and its 200 day simple moving average is $98.34. The company has a market capitalization of $15.41 billion, a PE ratio of 24.94, a price-to-earnings-growth ratio of 1.87 and a beta of 1.20.

Pentair (NYSE:PNR) last announced its earnings results on Tuesday, February 4th. The industrial products company reported $1.08 EPS for the quarter, topping the consensus estimate of $1.02 by $0.06. Pentair had a net margin of 15.32% and a return on equity of 20.94%. The company had revenue of $972.90 million for the quarter, compared to analysts’ expectations of $970.95 million. During the same period last year, the firm earned $0.87 earnings per share. The business’s revenue for the quarter was down 1.2% on a year-over-year basis. As a group, sell-side analysts anticipate that Pentair plc will post 4.77 earnings per share for the current year.

Pentair Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Friday, May 2nd. Shareholders of record on Friday, April 18th will be issued a $0.25 dividend. The ex-dividend date of this dividend is Thursday, April 17th. This represents a $1.00 annualized dividend and a yield of 1.07%. Pentair’s dividend payout ratio is presently 26.74%.

Pentair Company Profile

Pentair plc provides various water solutions in the United States, Western Europe, China, Eastern Europe, Latin America, the Middle East, Southeast Asia, Australia, Canada, and Japan. The company operates through three segments: Flow, Water Solutions, and Pool. The Flow segment designs, manufactures, and sells fluid treatment and pump products and systems, including pressure vessels, gas recovery solutions, membrane bioreactors, wastewater reuse systems and advanced membrane filtration, separation systems, water disposal pumps, water supply pumps, fluid transfer pumps, turbine pumps, solid handling pumps, and agricultural spray nozzles for fluid delivery, ion exchange, desalination, food and beverage, separation technologies in the oil and gas industry, residential and municipal wells, water treatment, wastewater solids handling, pressure boosting, circulation and transfer, fire suppression, flood control, agricultural irrigation, and crop spray in residential, commercial, and industrial markets.